Preprocessor macros are not part of the actual C language, handling of macros and other preprocessor directives is a separate step done before the compiler1. This means that macros do not follow the rules of C, especially in regards to scoping, macros are always "global".
That means the printf function you think you call in the main function is not actually the printf function, it's the printf macro.
The code you show will look like this after preprocessing (and removal of comments):
void fun()
{
}
void main()
{
int x = 20;
fun();
x = 10;
(printf)("%d", x*2);
}
What happens is that the invocation of the printf macro is replaced with a call to the printf function. And since the second argument of the macro is multiplied by two, the output will be 10 * 2 which is 20.
This program illustrates a major problem with macros: It's to easy to a program look like a normal program, but it does something unexpected. It's simple to define a macro true that actually evaluates to false, and the opposite, changing the meaning of comparisons against true or false completely. The only thing you should learn from an example like this is how bad macros are, and that you should never try to use macros to "redefine" the language or standard functions. When used sparingly and well macros are good and will make programming in C easier. Used wrongly, like in this example, and they will make the code unreadable and unmaintainable.
1 The preprocessor used to be a separate program that ran before the compiler program. Modern compilers have the preprocessor step built-in, but it's still a separate step before the actual C-code is parsed.